I believe if you renew at that time your new pass will start then, if they will even let you. If your pass expires on Nov 25 you will have 30 days to renew at the renewal rate.
It may (or may not) be worth it to you to let your pass expire and wait to see if they offer another really good deal on the PAPs as they have the last couple of years. They will active when you pick them up, not when you buy them.
I believe renewal can be done 30 days before through 30 days after your expiration date. The expiration date of the new pass will be one year from the expiration date of the pass being renewed, regardless of what date you do the renewal.
You can renew up to 60 days before and up to 30 days after the expiration date of the pass being renewed. Renewals will extend your expiration date by one year.